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I want to tell you what Wall Street -- severe.
That's right that's what they call you what Wall Street sees -- you the retail investor they can't even dumb money.
I was reminded of this ridiculous name because of the issue -- FaceBook shares last Friday.
Take a look at that's it opened at 38 bucks a share but -- traded down 16%.
Sense -- It's not what you would expect out of an Internet IPO not by a long shot and now FaceBook ranks as one of the worst IPOs of this decade.
But it's not like nobody made any money take a look at these folks.
The 35 investment banks underwriting the offering made a hundred million dollars.
And they include all the usual suspects JPMorgan chase Bank of America -- Merrill Lynch you name it.
Mark Zuckerberg CEO sold one point one billion shares and still has 503 million shares worth sixteen.
I like to think that us dumb money -- stayed away for good reason listen to this you'll agree.
Take a look at what the pros call the after market performance of the biggest Internet IPOs ever one of the five biggest ever G annuity.
Is bank wrapped.
Three of those -- -- trading below their offer price below -- copper price and even their first -- price.
Only Google is higher -- its way higher up almost 600%.
So essentially if you invested in one of these yet -- one in five chance of doing well if you invest in some of the biggest Internet IPOs on record.
Seems to me that IPO investing is most lucrative for the folks who were cashing out of their investment the founders in the investment bankers.
And that's okay but it doesn't mean I have to invest to I didn't invest in FaceBook like you probably.
We know what the Smart move this.
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